With many issues facing our world today, businesses and big corporations are no longer just focusing on short-term profit but also on their impacts on society and the world at large. Over the past few years, some of these companies are now adopting non-financial factors and a more stakeholder-centric approach to doing business using what is known as ESG.
ESG stands for Environmental, Social, and Governance. Investors and businesses alike are increasingly applying ESG as criteria for making decisions about their company’s operations, global impacts, and what they invest their money on. For example, companies are now divesting from fossil fuels projects to investing in renewables like solar and wind.
To further help these companies to manage and improve their ESG footprint, pulsESG, a Silicon Valley tech startup has developed an Integrated SaaS Platform to empower companies to track and derive insights for ESG compliance and improvement based on stakeholder requirements.
Today, pulsESG announced it has emerged from stealth mode with $8.5M in seed funding to empower purpose-driven enterprises to manage and improve their ESG footprint. The round was backed by leading impact-driven investors and led by two Silicon Valley enterprise software veterans.
Founded in 2021 by tech veterans and co-founders Murat Sönmez and Inderjeet Singh, pulsESG is a public benefit corporation dedicated to empowering purpose-driven enterprises to manage and improve their ESG footprint with an integrated and comprehensive SaaS platform built for compliance tracking and insight.
The pulsESG platform is designed to take a different approach to ESG analysis than what currently exists in the marketplace by providing comprehensive, auditable, and accurate deep analytics that can be integrated with both the source and destination ESG systems of customers.
This new level of information empowers enterprises to make more informed ESG decisions using a platform that also provides end-users the flexibility to modify it based on changes in the ESG regulatory landscape and according to their stakeholder needs.
“Amidst changing impact benchmarks at national and global levels, accurate and reliable ESG analysis is moving from ‘nice-to-have to ‘must-have’ for enterprises worldwide, so we sought to develop a platform to help customers navigate this fluid landscape,” explained Co-founder, President, and CTO Inderjeet Singh. “The pulsESG™ platform was designed to raise the bar on quality and timeliness, allowing customers to respond to changes in the ESG models themselves, not just data points within current data models.”
“Simply put, pulsESG™ offers an integrated, comprehensive, and flexible SaaS platform for enterprises to define, capture, analyze, derive insight, and improve their ESG footprint,” added Murat Sönmez, Co-founder and CEO.
While private equity firms, their investors, and other stakeholders increasingly take ESG impacts and risk into account, the measurement tools and benchmarks for each continue to evolve—both across sectors and jurisdictions. Sönmez and Singh saw the opportunity to leverage their experience with SaaS platforms, integration, business processes, analytics, and master data management to create a system to help enterprises navigate and respond to this inherent fluidity in ESG analysis. The result of their vision is the pulsESG™ platform.
Sönmez and Singh have found early backing from leading investors in the impact-driven investment space, including FINTOP Capital, Aligned Climate Capital, SOMPO Holdings (Japan), Builders VC, eLab Ventures, and individual investors including Alberto Cribiore and André Borschberg.
Prior to co-founding pulsESG, Murat Sönmez was a member of the founding team at TIBCO Software and led it past the billion-dollar revenue mark as the head of its customer-facing operations. Sönmez later joined the Managing Board of the World Economic Forum in Switzerland, leading its global business community engagement efforts, and subsequently established and led its global technology policy network out of San Francisco.
“ESG reporting is quickly becoming standard practice for companies and investors worldwide. As an investor that cares deeply about ESG, we are excited about pulsESG’s ability to ensure that analysis and reporting is more real, reliable, and reportable,” Aligned Climate Capital CEO Peter W. Davidson said.
Rick Kushel, Co-founder and General Partner of FINTOP Capital added, “In a crowded field of ESG platforms, Murat and Inderjeet stand apart with the completeness of their vision, passion for impact, and unparalleled combined experience in successfully scaling startups, developing mission-driven software platforms, and executing strategic engagement with top-level leadership in organizations worldwide. We are pleased to lead the investment and look forward to an impactful journey together.”